EUVC newsletter - 14.04.2025

Apr 14, 2025

🎧 Podcasts of The Week

VC: This Week in European Tech with Dan Bowyer, Lomax Ward, and Andrew J. Scott
LP/VC: Flashpoint’s Alex Konoplyasty on The Current Exit Landscape and The Rise of Venture Debt
VC: Fal.ai’s Gorken Yurtseven and E2VC’s Enis Hulli on Building Developer-First AI Infrastructure
CVC: Leo Pharma’s Gitte Aabo on How to Use Corporate Collaboration to Identify Emerging Trends
VC: Defining and Validating Your Ideal Customer Profile with Alicia Carney, ex-Deliveroo

✍️ Insights Articles of The Week

🎧 Podcasts of The Week

This Week in European Tech with Dan Bowyer, Lomax Ward, and Andrew J. Scott

Welcome to a new episode of the EUVC podcast, where our good friend Dan Bowyer from SuperSeed meets with Andrew J. Scott, Founding Partner at 7percent Ventures, and Lomax Ward, General Partner at Outsized Ventures, to cover recent news and movements in the European tech landscape 💬

Here’s what’s covered:

01:22 Klarna's IPO and European Market Insights
04:19 AI, Tariffs, and Future Predictions
24:35 European Venture Capital Trends
25:52 Generative AI and Market Speculations
29:56 Challenges in the European Tech Ecosystem
35:30 UK AI Sector Report Insights
46:22 Exciting Deals and Future Prospects

Flashpoint’s Alex Konoplyasty on The Current Exit Landscape and The Rise of Venture Debt

In this episode, Andreas Munk Holm talks with Alex Konoplyasty, Managing Partner at Flashpoint Venture Growth. Currently raising its fourth venture growth fund with a target of $200 million, Flashpoint manages $500 million across multiple funds.

In this conversation, we discuss the nuts and bolts of exits, co-investments, and the role of venture debt in today’s market. Alex shares how Flashpoint Venture Growth builds operator-led portfolios, taking a hands-on approach to deal sourcing and capital efficiency and helping founders make tough decisions.

Here’s what’s covered:

06:54 Fundraising Challenges and Strategies
11:05 Portfolio Management and Exits
28:51 Understanding Liquidation Preferences
30:02 Valuation Discrepancies in Different Markets
32:04 Strategies for Founders to Manage Valuations
36:49 Investment Criteria and Founder Fit
47:39 Co-Investment Opportunities and Challenges

Meet Key LPs and GPs Focusing on CEE in Budapest this May

Join us for the 14th edition of the premier networking event in CEE for the private equity and venture capital industry to meet investors like Antenna Digital Ventures, EBRD, EIB, Erste Group, IFC, PFR Ventures, Tibas Ventures and many others.

Get a ticket with the EUVC Discount Code - EUVC15CEE.

See Who’s Attending

Fal.ai’s Gorken Yurtseven and E2VC’s Enis Hulli on Building Developer-First AI Infrastructure

In this episode, Andreas Munk Holm talks with Enis Hulli, General Partner at e2vc, and Gorken Yurtseven, founder and CTO of Fal.ai, to unpack the story behind one of Europe’s fastest-growing AI startups.

Gorken opens up about building a sales motion from scratch as a technical founder, the importance of developer-first products, and how being in San Francisco created viral moments that fueled Fal’s breakout growth. Enis, meanwhile, shares how Fal’s rise is shaping his investment strategy, doubling down on diaspora founders and “blue ocean” markets where Europe’s engineering talent can quietly build global winners.

Here’s what’s covered:

04:50 Deep Dive into Faleye and Generative Media
23:48 Revenue Growth and Market Dynamics
25:30 Strategic Market Positioning
29:10 Sales and Team Management
35:18 Building in San Francisco vs. Europe
47:33 Lessons and Insights for Founders and VCs

Where operational expertise and innovation work for you.

End-to-end coverage of Fund Admin, Tax, Accounting, Compliance, ESG, and more—enabling you to focus on what matters most: supporting visionaries and maximizing LP returns.

Learn more

Leo Pharma’s Gitte Aabo on How to Use Corporate Collaboration to Identify Emerging Trends

In this episode of our CVC series, Andreas Munk Holm and our CVC in-house expert, Jeppe Høier, talk with Gitte Aabo to explore the world of corporate venture. With a remarkable background that spans 27 years at Leo Pharma, including 12 years as CEO and further experience at GN Hearing, Gitte shares her journey in building innovation initiatives like Leo iLab.

During the conversation, Gitte dives into aligning corporate culture with innovative practices. She emphasizes that success in corporate venturing doesn’t come from following a one-size-fits-all formula but from ongoing, one-on-one discussions with board members and key executives.

Here’s what’s covered:

03:55 Establishing Leo Innovation Lab
06:20 Challenges and Learnings from Leo iLab
14:43 Innovation Strategies at GN Hearing
18:05 Corporate Venturing and Partnerships
23:27 Reflections on Ecosystem Building
34:28 Board Involvement in Corporate Venturing

Adventures and Deep Connection Await 💞

Step beyond the ordinary into a retreat that challenges and transforms you as a partner and as an individual. Ten couples will embark on an adventure of connection and shared resilience, guided by nature and a like-minded community. This is not an escape; it’s a chance to be fully present, together, in adventure and in life.

Join us in Corsica

✍️ Insights from the trenches

Why Regulatory Compliance Can Make or Break Your Capital Raise

Guest post by Matias Collan, CEO of ACE Alternatives

Raising capital in Europe’s private markets has changed dramatically. In this breakdown, Matias Collan explains how regulatory frameworks like the CBDF and AIFMD are reshaping how GPs engage LPs, and why compliance now signals operational excellence to top investors.

Key takeaways:

🧭 Pre-marketing is now tightly defined and regulated — no more casual “test the waters” conversations
🕒 GPs must notify regulators within 2 weeks of starting pre-marketing, detailing timeframes, geographies, and fund focus
🇩🇪 Germany enforces an “18-month trap” — subscriptions within 18 months of pre-marketing can trigger full registration
🛡️ Compliance = investor trust — LPs now assess regulatory discipline as part of operational DD
🌍 Non-EU GPs are not exempt — EU entities must be engaged even under NPPRs to pre-market legally
🧠 Smart GPs use compliance systems to track jurisdictional obligations, investor interactions, and conversion data

Read the full story

The Climate Capital Stack and New Funds

Guest post by Bailey Morrow, Head of Climate Tech at HSBC Innovation Banking

In a year marked by economic uncertainty, climate tech funding continues to evolve. Bailey Morrow breaks down new insights from The Climate Capital Stack and New Funds report, sponsored by HSBC Innovation Banking and produced by Sightline Climate.

Key takeaways:

💸 $86B in deployable capital, with slower, more disciplined deployment
📈 $164B raised for climate tech since 2021, including $47B in 2024 alone
🏗️ Infrastructure funds now hold nearly 60% of climate tech dry powder — signaling a shift toward lower-risk, mature sectors like solar, wind, and storage
🪙 Mid-sized funds ($125–500M) are on the rise, up 23% YoY
🌍 European funds hold strong, backed by regulation and public capital
👥 Fewer investors per deal, down 18% — but higher quality capital
🔋 The path to net zero relies on scaling both mature and nascent technologies, from EVs and batteries to industrial and food system innovation
💡 The climate capital stack is now more diverse, dynamic, and complex — requiring collaboration across stages and fund types

Read the full story

The U.S. Perspective on SME Tech

by SME Tech Leaders

Jason Shuman, GP at NYC’s leading seed-stage firm Primary, shares his bold take on why SME Tech is a distinct category, how AI is unlocking real ROI, and why the next generation of vertical SaaS winners will be compound startups that monetize across multiple layers from day one.

Key takeaways:

🍕 SME founders don’t need millions to start — but when PMF hits, it’s time to pour fuel
🔁 Successful SME Tech needs monetization beyond software fees — payments, services & labor automation are the new frontier
🧠 Customer obsession isn’t optional — real feedback beats assumptions every time
📦 Compound startups win by offering multiple value props upfront — not years down the line
💸 Fundraising efficiency is rising — investors are placing bigger bets on founders with speed + conviction

Read the full story

New Tools and Insights for Europe’s Investment Ecosystem

by The CO-INVESTIN project

The last newsletter from the CO-INVESTIN project delivers updates for anyone working at the intersection of innovation, investment, and ecosystem building. From interactive tools to new cross-border partnerships and AI deep dives, Europe’s startup landscape has become easier to navigate.

🔍 Highlights from this edition:

🌍 Expanded Interactive Map & Investment Roadmaps — New country profiles (Latvia, Lithuania, Hungary, Poland, Portugal, Croatia, Czech Republic) now live with localized insights & downloadable resources
🛠️ Post-Event Recap — 100+ participants joined the March workshop on Access to Finance, with takeaways from VCs, founders, and ecosystem leaders
🤝 Partnership with NGI Sargasso — A new EU collaboration to bridge deep-tech investment communities across Europe
🤖 AI x Innovation Feature — Theodora Giatagana of Found.ation breaks down how AI, BI, and predictive analytics are powering smarter decisions in startup ecosystems
💡 Real-world examples of how data-driven tools are reshaping product dev, customer journeys, and investor strategies

Check it out here

Up next in the EUVC community, we’ve got exclusive AMAs, expert-led workshops, and insider discussions you won’t want to miss. If you are not a member already, join now to connect and learn!

Join the EUVC community

💬 Community event | LP AMA with Herve Cuviliez | ⏰ April 23, 1:00 PM - 2:00 PM GMT+2 | 💻 Online

Knowing what’s going on inside LPs' heads can be difficult sometimes. Our series of LP AMAs allows you to ask all the questions you normally hold back. Join our exclusive AMA with Hervé Cuviliez, co-founder of ID4 Ventures, in a small-group, interactive setting where you can ask real questions and get real answers.